National Newswatch

Trudeau Is Shirking Canada’s Inflation Fight, Scotiabank Says

Jun 20 2022 — Stephen Wicary — One of Canada’s largest commercial banks fired a broadside at Prime Minister Justin Trudeau’s government, warning that high levels of federal spending are hurting the fight against inflation. Economists at Bank of Nova Scotia, in a report to investors published Sunday evening, said that aggressive interest rate increases launched by Bank of Canada Governor Tiff […]

Unions Start to Secure Higher Wages in Canada as Inflation Soars

Jun 14 2022 — — Canadian labor unions are beginning to win some of the biggest pay raises in more than a decade, though wage gains are still falling short of compensating workers for soaring inflation. The average annual increase of seven major union wage settlements in March and April was 3.1%, according to government data. That’s almost double the […]

Gas Exporters See Growing Support for East Coast Plant in Canada

Jun 7 2022 — Brian Platt — Canada’s natural gas companies say there’s growing domestic support for new energy infrastructure to facilitate exports to Europe, even as the country pursues aggressive climate-change targets. Tim Egan, president of the Canadian Gas Association, said he believes the public is beginning to recognize that boosting exports to countries like Germany is the most significant way […]

Trudeau’s Ex-Finance Minister Says Canada Is Misfiring on Growth

Jun 2 2022 — Theophilos Argitis — Prime Minister Justin Trudeau’s former finance minister said the governing Liberals aren’t exhibiting any “real sense of urgency” on growth, and warned Canada could pay a big economic price if things don’t change. Bill Morneau, in his first major speech since leaving office in 2020, argued political incentives in Ottawa on all sides run counter […]

Trudeau Is Shedding Support Among ‘Dislocated’ Younger Voters

May 18 2022 — Brian Platt — Younger voters were crucial to electing Justin Trudeau as Canada’s prime minister in 2015, but nearly seven years later they’re increasingly turning away from his Liberal Party — and early signs show the Conservatives may be picking some of them up. Support for Liberals among Canadians between 18 and 29 years old has averaged 22% […]

Alphabet, Netflix Tempt Canada as Source of Cash to Fund Culture

May 17 2022 — — Canada is walking a narrow path in regulating global technology giants, seeking a cut of company profits rather than trying to curb their market dominance. Prime Minister Justin Trudeau’s government has proposed legislation that could raise more than C$1 billion ($775 million) a year by forcing streaming services to fund local media and feature Canadian […]

New Zealand Says Canada Isn’t Fulfilling CPTPP Dairy Obligations

May 12 2022 — — New Zealand has initiated dispute settlement proceedings against Canada over dairy quotas, the first time it has taken such action under a free trade agreement. The manner in which Canada is implementing dairy tariff rate quotas is inconsistent with its obligations under the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, New Zealand Trade Minister Damien […]

Trudeau’s Oil Pipeline Gets Government-Backed $10 Billion Loan

May 11 2022 — Brian Platt — The Trans Mountain pipeline expansion project has secured up to C$10 billion ($7.7 billion) in private-sector financing, but it comes with a loan guarantee provided by the Canadian government. The financing was announced after multiple news organizations, including Bloomberg News, inquired about public disclosures appearing to show the government committing billions of dollars to the […]

Record Oil Exports Test Trudeau’s Climate-Change Ambitions

May 4 2022 — — Canada is becoming more reliant on the fossil-fuel sector, even as Prime Minister Justin Trudeau seeks to strengthen the country’s policies on climate change. Oil, natural gas, coal and refined petroleum exports hit a one-month record of C$17.4 billion ($13.6 billion) in March, according to data released Wednesday by Statistics Canada. Shipments totaled about C$150 […]

Twitter on Track to Reach Deal With Musk as Soon as Monday

Apr 25 2022 — — Twitter is in the final stretch of negotiations about a sale to Elon Musk, a person with knowledge of the matter said, Bloomberg News reports. The social media company is working to hammer out terms of a transaction and could reach an agreement as soon as Monday if negotiations go smoothly, according to the person.

Elon Musk Launches $43 Billion Hostile Takeover of Twitter

Apr 14 2022 — — Elon Musk has made a “best and final” offer to buy Twitter Inc., saying the company has extraordinary potential and he will unlock it. The world’s richest person will offer $54.20 per share in cash, representing a 54% premium over the Jan. 28 closing price and a value of about $43 billion. The social media […]

Trudeau Budget Will Complicate Bank of Canada Inflation Fight

Apr 6 2022 — Theophilos Argitis — Finance Minister Chrystia Freeland may effectively tell the Bank of Canada it’s on its own in tackling inflation when she introduces a budget Thursday that’s expected to be full of new spending initiatives. In the lead-up to the release, Prime Minister Justin Trudeau’s government has indicated it remains more committed to delivering new social programs […]